The Globe and Mail reports in its Friday edition that Echelon Partners' Andrew Semple has reaffirmed his "buy" recommendation for Green Thumb Industries. The Globe's David Leeder writes that Mr. Semple raised his share target by $2 to $23. Analysts on average target the shares at $25.36. Mr. Semple says in a note: "Our outlook for 2024 continues to reflect that Green Thumb's relatively mature 'cash cow' states should remain reasonably stable from a cash-flow perspective. Should its more mature markets hold steady, it could allow Green Thumb's new emerging markets -- such as new adult-use programs in New Jersey, Connecticut, Ohio, Maryland, and New York, as well as emerging medical markets in Virginia and Minnesota -- to drive top-line growth at the consolidated level in 2024. We view Green Thumb as a top-quality U.S. cannabis operator, with an excellent track record of positive earnings and a deeper organic growth pipeline than most other MSOs. Green Thumb maintains a healthy balance sheet with a QE cash balance of $162-million and no major near-term liquidity concerns. Green Thumb's financial flexibility is increasingly important as capital market conditions remain a primary concern for U.S. cannabis companies."